Walmart, the largest employer in the United States, announced Tuesday that beginning Aug. 16, it will pay 100% of the costs of college tuition and books for its full-time and part-time employees.
The company will drop its existing $1-per-day fee for employees in the Live Better U education program.
The big-box retailer has introduced the program as a way to improve retention and curb student loan debts.
According to Walmart, approximately 1.5 million part-time and full-time Walmart and Sam’s Club associates in the U.S. can earn college degrees or learn trade skills without the burden of education debt.
Walmart is committing to invest nearly $1 billion over the next five years in career-driven training and development, Walmart said.
“We are creating a path of opportunity for our associates to grow their careers at Walmart, so they can continue to build better lives for themselves and their families,” said Lorraine Stomski, senior vice president of learning and leadership at Walmart.”“This investment is another way we can support our associates to pursue their passion and purpose while removing the barriers that too often keep adult working learners from obtaining degrees.”
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